In its third quarter market performance report, Ripple discusses the lawsuit between the SEC and Ripple Labs. While the proceedings may seem time-consuming, the company acknowledges that it will try to expedite the case as soon as possible. Now, the SEC and Ripple are back in the news after it was reported that the court had approved the San Francisco-based blockchain company’s proposal. cryptocoin.com We have compiled the latest developments. Here are the details…
Court allowed Ripple move
According to an update from a lawyer who has closely followed the case between Ripple and the Securities and Exchange Commission (SEC), defense attorney and former federal prosecutor James K. Filan announced that the court has approved the move to seal Ripple’s franchise records.
Attorney for Defendant Bradley Garlinghouse, Matthew C. Solomon, states that Appendix A is a privilege diary and Appendix B is a document produced during the trial. In addition, the SEC allegedly set both to be confidential. The court’s text-only decision of 28 October concluded by making it clear that the defendants’ request was granted provisionally.
The SEC was in a firm position that Ripple (XRP) did not want to send three more documents, emails from 2018 and 2019, despite accusing the regulator of operating in secrecy. The SEC claims that deliberate process privilege and apathy are the cause of the same thing. Filan confirms that the court has yet to decide whether it should file the three documents the SEC considers privileged. Finally, while Ripple has been implicated in a lawsuit, the blockchain company is having a warmer encounter with Australian regulators.
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